Hartleys have done a valuation on WA-388-P and have stated :
"Oilex has identified several prospects ranging in size, up to 2.8 trillion cubic feet of gas. An 8.4% working interest in a successful discovery of 2.8 trillion cubic feet of gas would result in 235 billion cubic feet of gas net to Oilex. Using a conservative valuation of $0.50 per thousand cubic feet implies a value of A$117m or 53cps for Oilex. This does not include the potential of any associated liquids or the likelihood of additional discoveries from the other numerous prospects on the block."
See the announcement in late November. It seems this is currently going unnoticed by the market. Probably a good time to accumulate.
TAP Price at posting:
92.5¢ Sentiment: Buy Disclosure: Held
